Apollo Funds acquire Uniworld parent The Travel Corporation

Among the other TTC brands are Trafalgar, a leading escorted tour operator; Contiki, a youth travel specialist tour company; and Insight Vacations, a premium guided tour brand.

Terms of the deal were not disclosed.

Taking TTC to the next level

'TTC has a leading collection of brands that we believe we can take to the next level as an Apollo Funds portfolio company, leveraging our extensive experience in the travel, tech and hospitality sectors,' Apollo Private Equity Partner Michele Raba said. 'We look forward to building on its legacy in an exciting next chapter in which TTC can serve as a platform for growth.'

'For more than 104 years our family has built TTC into an industry leader known for exceptional service and innovation,' Chairman Brett Tollman said. 'Without a next generation to lead TTC, the time has come in our strategic succession plan to select a new owner with a proven track record and who shares in our vision and customer-first values.'

Tollman said TTC will 'support a seamless transition, and are confident the team at Apollo will continue driving the business forward to meet growing global demand for touring, river cruising and specialist and adventure travel.'

Uniworld fleet

In 2025 Uniworld will field 18 luxurious river vessels, most of them in Europe. Among those are two former Crystal ships (Crystal Bach and Crystal Mahler) on charter from Riverside Luxury Cruises. Bach is sailing as Super Ship Victoria from this year while the former Mahler is set to operate as Elizabeth beginning in 2025. Both are on a three-year bareboat charters.

Certain brands are not included in the sale, notably The Red Carnation Hotel Collection, and will remain in the Tollman family's control.